WeiMai Closes $30 Million Series B Round, Existing Investor Source Code Capital Continues to Increase Stake

源码资本·September 13, 2018·0·0

WeDoctor + Haodf + Alipay

On September 13, Source Code Capital portfolio company WeiMai announced the completion of a $30 million Series B round. The round was led by Cenova Capital, with follow-on investments from Source Code Capital, Yuanjing Capital, Matrix Partners China, and founder and CEO Jialin Qiu.

Jialin Qiu, founder and CEO of WeiMai, said: "WeiMai will focus its investments in four areas: continuing to deepen internet-enabled healthcare service operations at partner hospitals, helping improve the integrated online-to-offline patient experience while expanding the scope and boundaries of our services; accelerating our city-by-city expansion to grow our network of partner cities and hospitals — with over 70 cities currently served out of more than 350 prefecture-level cities in China, our next target is 150 cities; continuing to incubate and explore innovative service offerings, driving the launch and scaled rollout of our ongoing internet-enabled specialty care programs within hospitals; and continuing to build a more professional and efficient talent pipeline."

As the lead investor in WeiMai's angel round, Source Code Capital has tracked the company's development since its founding in 2015. The firm is bullish on the growth potential of the "internet + healthcare" sector and has continued to increase its stake in subsequent funding rounds. Source Code Capital strongly supports WeiMai's positioning as a "localized trust-based doctor-patient service platform" and its model of building a new type of localized, trust-based doctor-patient relationship on its platform — described as "WeDoctor + Haodf + Alipay." By using internet technology to transform the service efficiency of traditional healthcare, the company has enormous room for growth ahead.

WeiMai has remained focused on the internet healthcare space, with a mission to "make healthcare services accessible." The company hopes to use internet and other technologies so that ordinary people can access healthcare services without difficulty, and so that hospitals and doctors can deliver those services without difficulty.

By building city-level internet healthcare big data platforms, WeiMai provides users with a range of precision services based on internet-enabled healthcare: appointment scheduling, lab report queries, full-cycle payments, online doctor consultations and inquiries, medical record and health档案 management, prescription fulfillment and drug delivery, maternal/child and chronic disease management, tiered diagnosis and treatment, remote care, family doctors, and more. The company aims to build a local one-stop healthcare service platform for the public, dedicated to providing lifelong healthcare services for every individual and realizing a new healthcare ecosystem where "everyone has a health record, every family has a family doctor, and every city has an internet hospital."

Jialin Qiu believes that the ideal state of internet healthcare is one in which, on a household basis, all family members can find and connect with doctors they know and trust to receive ongoing consultation and health management services.

The role of the internet, he says, is to facilitate and empower trust-based service relationships between doctors and patients through connection. WeiMai is also reportedly the first healthcare service platform in China to advocate for "trust-based medicine," using the public healthcare system as its core to provide users with open, transparent, professional, and precise healthcare services that enhance transparency and mutual trust between doctors and patients.

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